Stitch Fix Inc. stock is down 6% to $21.85 in afternoon trading Wednesday after the company’s lock-up period expired, adding more than 37 million shares to the float. The additional shares represent about 35% of the total number of shares outstanding and are mostly held by executives and other early investors. Prior to the lock-up expiring there were 10 million shares available to trade in public markets. The e-commerce company’s lock-up agreement with its underwriters was set to expire in May, but the company met the conditions necessary to allow insiders to sell stock Wednesday, after the company reported its December-quarter results earlier this week. Stitch Fix stock is down 15% since the beginning of the year, as the S&P 500 index has gained 3.4%.
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